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The Arc Of Resurgency

Posted on May 09, 2014 by

There’s not been much happening in the news today, folks, but luckily an alert reader came to the rescue with a story from the Financial Times that had slipped past us and which we have the oddest sensation the Scottish press won’t pick up either.

“Ireland’s long-term borrowing costs have fallen below those of the UK for the first time in six years in the latest sign of the remarkable turnround in the eurozone, which just two years ago seemed on the verge of break-up.”

Ireland, of course, was in a far deeper financial hole than resource-rich, wealthy Scotland could ever conceivably find itself in. Yet after just six short years it’s already seen as a safer credit risk than the UK.

We’re told that Scotland couldn’t afford to service its debt because the cost of borrowing would be too high. We’re told that a Sterling currency union couldn’t work because it would be like the disastrous Eurozone, yet the Eurozone has weathered the most extraordinary fiscal storms – again fiercer than anything the extremely similar economies of Scotland and the rUK could ever produce – and bounced right back.

But one after another, every Unionist scare story turns out to be drivel. With the UK government having already admitted this week that pensions are safe too, we’re not sure what there is left to be frightened of.

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67 to “The Arc Of Resurgency”

  1. Aikenheed
    Ignored
    says:

    That’s one for your wee tartan book rev!

  2. David
    Ignored
    says:

    All I can say is thank god for sites like this or i would be oblivious to these stories more worryinng is those voters who have no access to the Internet !.

  3. Cyberniall
    Ignored
    says:

    “The only thing we have to fear is… fear itself.”

    That and aliens…

  4. Macandroid
    Ignored
    says:

    Was the Aliens Act ever repealed?

  5. Truth
    Ignored
    says:

    But they didn’t have the banks did they? Hmm? Hmm?

    How are we going to pay for RBS? Hmm? Hmm?

    What? They did have banks? They bailed them out you say? But, but.

    Well, I still don’t like that Alicsammon’s face!

  6. jim arnott
    Ignored
    says:

    Hasn’t wee Iceland “suffered” the same resurgence? And they imprisoned their bankers.

  7. Juteman
    Ignored
    says:

    I wouldn’t say there isn’t much happening. The ex-politician Broon is all over BBC News 24, giving advice on the Nigerian kids abduction.

    A cynic might think that he is being ‘bigged up’ as a very, very, very. very important and clever statesman that knows about stuff, so that his lectures on the dangers of independence will carry more worth.

  8. Dcanmore
    Ignored
    says:

    What it also proves is that the UK’s wealth is being hoarded by the City of London for the benefit of themselves* as they let the rest of the country starve.

    *note: future finance directors = today’s Westminster politicians, from one trough into another.

  9. fairiefromtheearth
    Ignored
    says:

    EU how can we pay off these loans,i know lets get more loans,its a fekking joke ponzi debt scheme lol

  10. The Tree of Liberty
    Ignored
    says:

    Yipe, I think that about covers it.

  11. Hardin
    Ignored
    says:

    Iceland has 100% renewable energy (geothermal mind) and had so much cash spare they built a whole extra power station they don’t need to switch on. They are decades ahead of us.

  12. Murray McCallum
    Ignored
    says:

    Will Gordon Brown take the credit for saving Ireland? He’ll find an angle somehow.

  13. heedtracker
    Ignored
    says:

    Go Ireland! Also but not only, George Osborne loaned Bank Of Ireland over £7 billion bailout cash, helping the rest of the EU stop Ireland from going under in 2010. Wonder why?

    Its funny how this kind of real world finance thingee is left out of everyday Bliar MacDougal and the Flipper’s Project Fear stuff about say a future RBS bankrupting Scotland. Hint, Ireland is not in this nonsense union with England.

    http://www.theguardian.com/business/2010/nov/22/ireland-bailout-uk-lends-seven-billion

  14. Steve Bowers
    Ignored
    says:

    Nothing wrong with imprisoning bankers Jim Arnott, in fact they probably like it and will pay handsomely for having it done to them. Nice one Rev.

  15. Mike Mackay
    Ignored
    says:

    This half-alert reader on this Aberdeen afternoon thankful for you picking this up and putting it to your audience Rev Stuart. Much appreciated.

  16. velofello
    Ignored
    says:

    @ heedtracker: Osborne borrowed the loan money,added a percent or two and then loaned to Ireland for profit.

  17. Bigdrone
    Ignored
    says:

    Come on you lot out there BT must have something else to have a go at.

    Today,so far, we’ve had the 2026 removal date for Trident, the dual Olympic nationality from Henry. Can anybody help them?

    Have they had a go about being banned from the Eurovision Song Contest yet?

    Oh YES please!

  18. Jim Marshall
    Ignored
    says:

    For years now we have been advised by the London mafia capitalists via their mouthpieces the Tory press and the BBC that the Eurozone was a disaster area and that there would be a catastrophic collapse “soon”. Now we know that these scare stories had no substance.

    The Euro is the second most powerful currency in the world after the almighty Dollar. When it was floated in 2002 ( it had existed as an electronic currency unit for a couple of years before that) the exchange rate with the pound sterling was 62p. The current exchange rate is 81.7p. It has therefore risen in value by 30%.

    The Euro will be around when the pound sterling has been devalued out of existence.

  19. heedtracker
    Ignored
    says:

    @velofello, protecting UKOK investment, which would never happen if Scotland dares to vote YES? Check out Osborne’s take, he’s in neither a fiscal or political union with Ireland but here they are. So translate all of this Treasury lending in Ireland with their no sterling share bluff with Scotland. There’s Project Fear and the real world.

    “But we have also made a commitment to consider a bilateral loan that reflects the fact we are not part of the euro… but Ireland is our very closest economic neighbour.”

  20. Bigdrone
    Ignored
    says:

    Oh God, I’ve just read Alyn Smith is proposing a Scottish entry! Please Alyn tell us your toungue is firmly in your cheek – and no fatuous comments about who’s!

  21. joe kane
    Ignored
    says:

    Will Gordon Brown take the credit for saving Ireland? He’ll find an angle somehow.
    – Despite the fact Iceland is a hotbed of terrorist activity, Gordon Brown and his Labour Party will take the credit for not invading Iceland during the financial crisis, which his party helped create by refusing to regulate the corrupt City of London.

    Crash Gordon is a quality international statesman if there ever was one. Great with money too. Also very popular with the UK electorate I’m told.

    ps
    Iceland’s Leader Slams Gordon Brown Over Crisis
    http://news.sky.com/story/1041936/icelands-leader-slams-gordon-brown-over-crisis
    Mr Grimsson told Sky News: “The Gordon Brown government decided, to its eternal shame, to put the Icelandic government on a list of terrorist states and terrorist phenomena. We were there together with al Qaeda and the Taliban on that list.
    “We have not forgotten that in Iceland.”

  22. Democracy Reborn
    Ignored
    says:

    What about the “Arc of Lies, Fear & Smear”? : Blair MacD, Darling, Gordo, Johann, Carmichael, Rennie….
    (I know – the arc is endless)

  23. Sinky
    Ignored
    says:

    Another unionist myth about volatile oil prices debunked

    “The past three years have been one of the most stable periods for oil prices in recent memory, says Eric Lee, an oil analyst with Citigroup. Last year marked the smallest range of daily price movements in more than 10 years, according to the U.S. Department of Energy.”

    http://www.businessweek.com/articles/2014-05-08/u-dot-s-dot-shale-boom-keeps-global-oil-prices-from-soaring

  24. Tattie-bogle
    Ignored
    says:

    Every day the union is getting debunked, pointed a few students in the direction of wings today. Overheard their conversation about leaflets being handed out by Ban The Bomb.Not one of them knew about the barnett formula or the English NHS being privatised.They do now. 🙂

  25. Croompenstein
    Ignored
    says:

    Dunno if anyone’s commented but loving the new banner at the top of page for new visitors that links to the reference section. 🙂

  26. Druidpld
    Ignored
    says:

    WHAT IS THERE LEFT TO BE AFRAID OF YOU FOOL….VELOCIRAPTORS!

    Any threat to the Union will see an end to the extraordinairy achievement of ensuring that ordinairy Scots are protected against the, very real, threat of genetically engineered dinosaurs stalking the land.

    The, very real, example of Isla Nublar (a seperatist model) praised recently by Alex Salmond in an interview with GQ. Shows just how frightened we should all be of this mad indepedence experiment!

    Statistics, and very very complicated statistics – well beyond you’re understanding, show since the union came into being we have benefitted from a 0% incidence of velociraptor related fatalities. Can these mad Natz prove this won’t happen following the crazed destruction of our beloved union?

  27. Davy
    Ignored
    says:

    Message from “Bunker George Square”, bugger bugger bugger bugger bugger bugger hic bugger bugger.

    What a time it has been since the start of the year, what will come next as it appears every week another BT myth/scare-story gets squashed.

  28. caz-m
    Ignored
    says:

    Ed Conway of Sky News tells us today that within the UK,

    “the great recession is over”.

    http://news.sky.com/story/1258404/when-did-the-great-recession-really-end

  29. Les Wilson
    Ignored
    says:

    I am just waiting for Westminster to subsidise wind turbines in Ireland, arranging electricity to England as part of the deal. They would do this to undermine Scottish subsidies and hurt Scottish renewables.

    I think their recent OTT ballyhoo of the Irish Minister’s visit to London, which was all love and forgiveness and let’s work together. Osborne has said ” Ireland are their closest friends” or close to that. They are devious, and I imagine it is because they see it as being in their interest and nothing else.

  30. Liquid Lenny
    Ignored
    says:

    Macandroid

    Don’t know about the Alien Act, however in the Herald several years ago in the 150 years ago bit, there was something about an act being passed in Westminster that allowed for any Scots who hit hard times being repatriated back to the nearest port from their home in Scotland.

    There was mention of one guy who had worked in England for decades in a good job, who through no fault of his own became penniless and he and his family were shipped to Glasgow and they had to make there own way home from there.

    Maybe some Winger can find out what the name of the act was and whether it is still on the statute books.

    To all you guys going to the WOS doo the night have a good one, wish I was there, but will be watching!!!
    JJ

  31. Tattie-bogle
    Ignored
    says:

    O/T
    Heard Red ED earlier waffling about blah blah more powers blah pwoud of wabour blah blah

  32. TheItalianJob
    Ignored
    says:

    @Croompenstein says:

    “Dunno if anyone’s commented but loving the new banner at the top of page for new visitors that links to the reference section.”

    Yes noticed it this morning too. Stu’s gearing up for the run-in.

    Hooray.

  33. caz-m
    Ignored
    says:

    No doubt, Ed Conway of Sky News will be talking about the London and SE England recession that is ending.

    Outside of the SE of England is irrelevant.

  34. Alastair Wright
    Ignored
    says:

    Democracy Reborn says:
    9 May, 2014 at 5:29 pm
    What about the “Arc of Lies, Fear & Smear”? : Blair MacD, Darling, Gordo, Johann, Carmichael, Rennie….
    (I know – the arc is endless)
    An ever decreasing circle perhaps

  35. Pentland Firth
    Ignored
    says:

    It’s not just long term borrowing rates which are lower in Ireland. Short term (one, two, and five years) rates are as well. Congratulations to our Irish friends.

    When spreading the word, folks, remember that Ireland (and Iceland) also have higher standards of living than the UK.

    Mr Jim Murphy, our independent small neighbours to the west and north do not comprise an Arc of Insolvency, but you are undoubtedly an Arse of Ignorance.

  36. heedtracker
    Ignored
    says:

    If the UK is now out of recesion, there goes a n other Project Fear vote no thing, as in how can you possibly desert our closest besties in England and in the the face of such a difficult time of world economic troubles. UKOK media blasts off with ” it’s over, rejoice rejoice” and pop goes another one for the No campaign.

  37. The Tree of Liberty
    Ignored
    says:

    Oh aye, forgot, hiv a hoot tonite, folks.

  38. Elizabeth
    Ignored
    says:

    O/T STV news reporting that David Cameron says he will ‘not resign’ in the event of a Yes vote. Cue Prof. Curtice typo pontificate on whether Alex Salmond should resign if there’s a No vote. He said AS might want to go because ‘his wife was older than him’ !

    Is there nothing too personal or off limits to the all-pervasive sophologist?

  39. Elizabeth
    Ignored
    says:

    Damn the predictive text . It should be ‘to’ not ‘typo’

  40. Truth
    Ignored
    says:

    @Liquid Lenny

    Ooh, I like a challenge. Gimme an hour and I’ll see what I can find.

  41. Clootie
    Ignored
    says:

    I’m getting really pissed off with the media in Scotland ignoring any story that doesn’t play to the unionist scare stories.

    Regardless of the vote outcome I will never trust the MSM again.

  42. Brian Nicholson
    Ignored
    says:

    To paraphrase a well known troll, “Project Fear,Smear and Sneer continues on unabated”.

  43. heedtracker
    Ignored
    says:

    http://bellacaledonia.org.uk/2014/05/09/realfinanz/ explains Osborne and possible/likely teamGEnglandB fiscal policy post YES in September.

  44. caz-m
    Ignored
    says:

    heedtracker

    You’re right enough, Ed Miliband and Co. will have to stop the fear stories of, we’re all better together, pool and share through the hard time, etc…

  45. caz-m
    Ignored
    says:

    I love wasting my money, I think I’ll buy some shares in Johnston Press.

    How about a bit of crowd funding Rev for our friends at The Scotsman.

    Or will we just sit back and watch the slow death of James Nuaghtie’s script writers.

  46. Croompenstein
    Ignored
    says:

    HaHa did anyone hear John McKay’s wee slip on STV news he was talking about jobcentre and said webshite instead of website 🙂 wonder what John Toye or Mary Marquis would make of that..

  47. caz-m
    Ignored
    says:

    I see the Burd Wumman of Pacific Quay is missin tonight from Reporting Scotland.

    Two days of tellin lies and talkin bullshit ferr takes it oot ye.

  48. Lesley-Anne
    Ignored
    says:

    I’ve just suffered for my crimes, the relentless droning of Milliband. Apparently he could not get all of his visits to Scotland completed in one day the other Friday so he felt the need, the need to bore to death, the Scots once again today.

    The victims of today were the unlucky residents and workers of Dundee. Unfortunately, well really should be fortunately, I didn’t actually hear what he had to say…I was too busy counting the flying pigs passing my living room window. 😛

    If all this is not enough then perhaps the unveiling of Labour’s latest poster might brighten the day up.

    http://munguinsrepublic.blogspot.co.uk/2014/05/smart-looking-adbut-sloppy-research.html

    What get’s me is the old Labour faithful at the bottom of the poster, namely “Hardworking Britain better off.”

    Hard working?

    Are they taking the proverbial?

    I mean these earseholes are on £66,000 a year PLUS allowances including £400 per month food allowance and they have the nerve to run a poster about £450 VAT bill on our shopping bill. As Tris points out the majority of items on a “hard working family’s” shopping bill do NOT have VAT on them. What a bunch of MUPPETS!

  49. Churm Rincewind
    Ignored
    says:

    “Ireland, of course, was in a far deeper financial hole than resource-rich, wealthy Scotland could ever conceivably find itself in. Yet after just six short years it’s already seen as a safer credit risk than the UK.”

    This is an unwarranted conclusion. The UK sets its own interest rates and is expected to raise them over the coming months and years, so investors are demanding higher yields. In contrast, the European Central Bank (ECB) has indicated it will hold interest rates low well into the future, keeping rates low for euro borrowers such as Ireland.

    All this tells us is that if Scotland were independent right now, all other considerations aside (which is a big aside), an independent Scotland would have lower borrowing costs if it had adopted the euro than if it had a currency union with the UK.

    If there’s any narrow lesson to be drawn, and I don’t think there is, it’s that an independent Scotland should abandon its plans for a currency union and join the eurozone instead.

  50. TartanZen
    Ignored
    says:

    Ask the folk in Greece and Spain if it has weathered it…

    In the currency union we’ve already had for 300 years who has gotten the worst of it? … Scotland

    SNP need to be honest and talk about a plan for currency that isn’t a currency union.

    They also need to be honest about what it means to be in the EU or not… TTIP being a fairly scary example.

  51. Bugger (the Panda)
    Ignored
    says:

    Davidson at again, calling for the bayoneting of the wounded after the Referendum.

    http://en.ria.ru/world/20140507/189666653/UK-Member-of-Parliament-Repeats-Call-To-Bayonet-Scottish.html

  52. Tattie-bogle
    Ignored
    says:

    @caz-m I see the Burd Wumman of Pacific Quay is missin tonight from Reporting Scotland.
    She is away to get her bollox injections bollox/botox tomatoe/tomato

  53. Croompenstein
    Ignored
    says:

    Sally does a decent impression of the Big Burd

  54. Rev. Stuart Campbell
    Ignored
    says:

    “This is an unwarranted conclusion. The UK sets its own interest rates and is expected to raise them over the coming months and years, so investors are demanding higher yields.”

    You’re quibbling with the reasons, not the conclusion.

  55. Truth
    Ignored
    says:

    @Liquid Lenny

    Alas I have been unable to find what you are referring to.

    I did however come across the following link, and whilst I prefer to look to the future rather than the past, it is amazing the parallels that can be drawn with today:

    en.wikipedia.org/wiki/Anti-Scottish_sentiment

  56. Ken500
    Ignored
    says:

    Osbourne’s father has an IR estate. Osbourne was bailing Daddy out, with an enormous loan of taxpayers monies. Irish bankers did go to jail.

    Unlike Osbourne’s ‘best’ man and brother in law who made a killing of £millions in the under estimated (by them) Royal Mail sell off aka Pension fraud grab.

    Cameron’s family also had/has an estate at Huntly, and the in-laws have an absentee estate in Dura. Tax evasion.

    All in it together. Making £Millions out of politics and public monies.

  57. JLT
    Ignored
    says:

    There is nothing to fear.

    We just remain calm, keep pointing out Westminster’s failings, and continue to convert.

    Just do as Margo said …‘If we all convert one person each, then we are home and dry

    It’s a simple as that. Do that …and we win.

  58. Dr Ew
    Ignored
    says:

    Did the BBC report Mr Osbourne’s brother-in-law and his best man made a killing out of the Royal Mail flotation? Did the MSM highlight this interesting fact?

    Did they fu…

    {This message truncated by GCHQ, working to defend your peace of mind)}

  59. Tattie-bogle
    Ignored
    says:

    JLT think i nailed 3 at college this morning. Once folk are informed they say “What you’re joking” they can’t believe the fibs they have been told

  60. JLT
    Ignored
    says:

    Tattie-Bogle

    I always find with a good few folk that if you ask them the question, ‘Did you know there is oil in the Clyde and the reason we can’t drill for it is because of those submarines. How do you think the Glaswegians would react if they realised they were sitting on Black Gold?

    You see them looking at you; trying to work out if you are winding them up. Then I say Don’t believe me …look it up on the internet by typing in ‘oil in the Clyde’

    Once they realise that Westminster has told some walloping huge lies to the people of Scotland, then the real doubt about the Union begins to kick in. After that, they’re in the ‘Don’t Know’ camp. They won’t be going back to ‘No’, that’s for sure.

    Works a treat each time!

  61. heedtracker
    Ignored
    says:

    @ Churm Rincewind, its Fiscal Commission info and advice behind the sterling share etc.
    http://www.scotland.gov.uk/Topics/Economy/Council-Economic-Advisers/FCWG

    The members are Professors Andrew Hughes Hallett, Sir Jim Mirrlees, Frances Ruane and Joseph Stiglitz. The sub-group is chaired by Crawford Beveridge.

    Some have Nobel prizes, do you? 😀

  62. msean
    Ignored
    says:

    Celtic Tiger in comeback cat shock.

  63. jamesh
    Ignored
    says:

    Great news.This confirms that an Independent Scotland,with all it’s resources, will have no problems with high borrowing cost.The UK Govt.will be very worried when they read this news today.

  64. Bonny Bird
    Ignored
    says:

    No doubt in my mind, Scotland can be a successful independent country

  65. Mike
    Ignored
    says:

    There is always the fear of ticking the wrong box.

  66. Churm Rincewind
    Ignored
    says:

    Heedtracker – I fully agree with the currency recommendations of the Fiscal Commission. That’s why I said I don’t think there is a lesson to be drawn here.

  67. Desimond
    Ignored
    says:

    “Ireland stands as a shining example of the art of the possible in long-term economic policymaking”…
    “What has caused this Irish miracle, and how can we in Britain emulate it?”

    George Osborne, heir apparent to the Irish baronetcy of Ballentaylor and Ballylemon – 2006



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